Exam 1: Defining Marketing for the 21st Century

Incorporating the holistic view of marketing, the four Ps of the marketing mix can be updated to ________.

A(n)________ need is one that the consumer is reluctant or unwilling to explicitly verbalize.

Cause-related marketing involves donating a percentage of revenues to a specific cause based on the revenue occurring during the announced period of support.

Which of the following reflects the "people" component of the marketing mix?

Which aspect of holistic marketing motivates employees and ensures that everyone in the organization embraces appropriate marketing principles, especially senior management?

When Volvo runs ads suggesting that its cars are the safest that money can buy, it is trying to ________.

Properties are tangible rights of ownership to either real property (real estate)or financial property (stocks and bonds).

"Friends Don't Let Friends Drive Drunk," is an example of marketing information to an interested audience.

Companies are recognizing that much of their market value comes from ________, particularly their brands, customer base, employees, distributor and supplier relations, and intellectual capital.

The selling concept holds that consumers will favor those products that offer the most quality, performance, or innovative features.

When consumers share a strong need that cannot be satisfied by an existing product, it is called ________.

Sales of woollen clothing usually increase during the winter season and decline thereafter. This is an example of ________ demand.

The digital revolution has placed a whole new set of capabilities in the hands of consumers and businesses. Describe the advantages that you as a consumer have today that your parents or grandparents didn't have.

Marketers should be skilled in stimulating demand for a company's products. Just as production and logistics professionals are responsible for supply management, marketers are responsible for demand management. Marketing managers seek to influence the level, timing, and composition of demand to meet the organization's objectives. List and briefly characterize the eight different demand states.

The value of an offering is described as ________.

Joanna owns a chain of fast-food joints. As the chain became more and more successful, she decided to contribute a share of her profits each year to support cancer research. This is an example of ________.

Car rental firms, hair dressers, and management consultants provide ________.

Rick Johnson trains his company's sales force to go after the consumer. He repeatedly asks his team to bear in mind the essential fact that it is the sales team's responsibility to rouse the consumer's interest and make him feel that he needs the product. A true salesman is one who can convert an indifferent consumer walking into the store into a new customer. Johnson believes in the ________ concept.

Performance marketing involves reviewing metrics assessing market share, customer loss rate, customer satisfaction, and product quality in the evaluation of the effectiveness of marketing activities.

Managers of ________ businesses concentrate on achieving high manufacturing efficiency, low costs, and mass distribution.